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GBP/USD Accelerates Gains as Prices Top Thursday High

GBP
  • GBP/USD now clear of the Thursday high, accelerating the day's gains on break. Move remains largely USD-led as the USD Index deepens its position as the poorest performing currency on the day - although EUR/GBP holds lower and a break below 0.8521 would see the lowest print since August 2023.
  • GBP/USD's next resistance crosses at 1.2775 and a firmer break here would go toward ending the consolidation phase posted across much of January, bringing cycle highs and the Dec 28 level of 1.2827 into play just ahead of the key Fed/BoE meeting cycle next week.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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